Wendt Q1: consolidated PAT up 63% YoY to ₹6.2 Cr on 37% revenue growth, NPM expands

Wendt (India) reported a strong start to FY27. On the primary consolidated basis, revenue from operations rose ~37% YoY to ₹71.28 Cr (from ₹52.17 Cr) and PAT climbed ~63% YoY to ₹6.18 Cr (from ₹3.78 Cr), with net margin expanding to 8.7% from 7.0% a year ago and 7.5% last quarter — profit grew roughly twice as fast as revenue, so this is genuine operating leverage, not just topline. The print is fully organic: there are no exceptional or one-off items on either side, so reported and adjusted growth are the same.

The margin lift sits on the Super Abrasives segment, the group's core, where consolidated segment result rose to ₹8.51 Cr on ₹36.90 Cr of revenue. The drag is at the overseas subsidiaries: Thailand and Germany together turned in revenue of ₹11.37 Cr but a net loss of ₹1.39 Cr, which is why consolidated PAT (₹6.18 Cr) trails standalone PAT (₹8.00 Cr) — the India-only business is markedly more profitable. The consolidated Machines & Accessories segment remained in the red (−₹2.85 Cr), a wider loss than the year-ago −₹3.30 Cr but still the weak spot versus the profitable Super Abrasives and Precision Components lines. Standalone and consolidated tell the same growth story (PAT +62% vs +63% YoY), so the divergence is one of absolute level, not direction.

The stock went into the print at ₹7,870, up 2.8% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 3 consecutive quarters.

Consolidated PAT ₹6.18 Cr, +63% YoY and +21% QoQ — EPS ₹30.90 vs ₹18.93 YoY

Management's press release attributes the standalone 31% sales growth to a 38% jump in domestic sales into auto, auto-ancillary, bearings and ceramics user industries, with exports up 7% (US, Singapore, Thailand, Canada, Australia, Spain). This is consistent with the segment data. The company continues to invest behind the overseas footprint — it infused ₹13.29 Cr of capital into its Thai subsidiary in June 2026 — even as that arm currently dilutes consolidated profit. There is no formal management guidance on record and no brokerage/consensus coverage for a stock of this size, so the result cannot be benchmarked against a street number; on its own terms it is a clean beat on the year-ago base.